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Altira Corporation uses a periodic inventory system. The following information related to its merchandise inventory...

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Accounting

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Altira Corporation uses a periodic inventory system. The following information related to its merchandise inventory during the month of August 2018 is available Aug.1 Inventory on hand-2,699 units; cost S36.18 each. 8 Purchased 1e,ee0 units for $5.50 each. 14 Sold 8,089 units for $12.89 each. 18 Purchased 6,ee0 units for $5.e9 each. 5 Sold 7,009 units for $11.09 each Required Determine the inventory balance Altira would report in its August 31, 2018, balance sheet and the cost of goods sold it would report in its August 2018 income statement using each of the following cost flow methods Complete this question by entering your answers in the tabs below. FIFO LIFO Average Cost Determine the inventory balance Altira would report in its August 31, 2018, balance sheet and the cost of goods sold it would report in its Au statement using LIFO method. (Round "Cost per Unit" to 2 decimal places.)

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